03/17 Daily Summary

Active day and a live-test on all my contingent orders, positions self-adjusted without me being there. This is a good thing, meaning my risk control is working and I don’t have to be watching the market. I got out of the OEX position with the stop limit order, and also hedged my NDX trades. This has been a challenging up-side swing, sooner or later will give us a break. The key is to stick with my plan so I am actually back trading when it gives the break :)

03/17 NDX Iron Butterfly

Hit the contingent order to smooth out the deltas, the position is showing a little bit of profit despite having added the long call. I think it has to do with the fact this long call is not a lot of deltas, so when the market retraced I didn’t throw away a lot of money. Nothing to do unless we get to mid-way between short and break-even.

03/17 NDX Fast Iron Butterfly (from 03/15)

Hit the contingent order to hedge the position Today, I added the up-side butterfly by end of day. The 3rd time in a row the bearish position gets challenged and I have to add to it in order to stay in the trade. Let’s see how this one evolves.

03/17 NDX Fast Butterfly (from 03/08)

NDX seemed like it wouldn't give up, my contingent order to add another long call on the trade was triggered. while this is something I didn’t do in the backtesting, Yesterday I figured it was prudent thing to do in order to control the risk on the trade. By end of day the NDX went into a retreat, I am thinking this might not have been one of my best ideas.. Hindsight is always 20x20..

03/17 OEX Weekly Iron Condor

OEX got stopped out of the Call side Today, one thing I’ve noticed is that with commissions and slippage on the stop, the actual ratio of my max loss is more like 2x the cashflow instead of 1.5x times like I originally set up the trade. With this information I revised the projections based on this new datapoint and the strategy is still very viable. So I’ll come back next week :)